Pitkins company collects 20 of a months sales in the month, Ask an Expert

Accounting

Pitkins Company collects 20% of a month's sales in the month of sale, 70% in the month following sale, and 6% in the second month following sale. The remainder is uncollectible. Budgeted sales for the next four months are: January; February; March; April. Budgeted sales $200,000; $300,000; $350,000; $250,000 what Cash collections in April are budgeted to be:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9101017

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